AfDB's Board approves $117bn capital increase to support Nigeria and other African countries.
The African Development Bank's (AfDB) Board of Governors has approved a $117bn capital increase to support Nigeria and other African countries. AfDB President, Dr. Akinwumi Adesina, said at the 2024 Annual Meetings in Nairobi that the increased capital demonstrates shareholders' confidence in the bank's ability to use resources effectively and mobilise more capital. The authorised general capital of the AfDB will increase from $201bn to $318bn.
June 01, 2024
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